Sarona’s PE fund-of-funds commits to 22 emerging markets funds

Sarona Asset Management has committed to 22 private equity funds around the world since the launch of its fund-of-funds program in 2010. The firm is focused on making returns-generating investments in small and mid-market companies and private equity funds in frontier and emerging markets. It is based in Kitchener, Ontario, and Amsterdam, the Netherlands. Sarona’s backers include the U.S.-based Overseas Private Investment Corp, which committed US$87.5 million to its strategy in 2012.

PRESS RELEASE

OPIC President Applauds Sarona’s progress

12th May, 2014

WASHINGTON – Speaking today at Sarona Asset Management’s Investor Day 2014, Elizabeth Littlefield, President and CEO of the Overseas Private Investment Corporation (OPIC), the U.S. Government’s development finance institution, recognized the speed and effectiveness with which Sarona deploys growth capital for development impact. Since the launch of its private equity fund-of-funds program in 2010, Sarona has invested in 22 private equity funds across frontier and emerging markets.

“Investing with social and environmental values has been gathering momentum in recent years, building on the experience of development finance, emerging markets private equity and micro-finance. OPIC is proud to support Sarona which, as a fund-of-funds, represents an important new approach in the field,” Littlefield explained. “Sarona raises capital from investors attracted by both the promise of competitive financial returns and measurable development impacts. The fund brings environmental, social and governance standards to each of its investments and boosts high-growth small and medium enterprises that generate employment and create prosperity for underserved populations. Sarona’s mission, effectiveness and efficiency make them an ideal partner and we are delighted to be able to work closely with the Sarona team.”

Sarona’s Investor Day brought together a broad audience of prospective and existing investors, including OPIC, which committed $87.5mm in financing to Sarona’s strategy in 2012. OPIC’s support went through due diligence by Cambridge Associates and greatly improved the risk-return profile for other investors, stimulating the flow of capital to high-growth markets.

Today’s event featured a public conversation between Littlefield and Gerhard Pries, CEO of Sarona. This was followed by an update on the company’s activities, with particular focus on its investments in locally-based private equity managers that seek to deliver superior risk-adjusted returns. During the event, three of the general partners that Sarona has invested in spoke about the challenges and opportunities within these markets.

“Sarona’s extensive due diligence process challenged us to prove that we would be able to deliver both superior financial returns as well as to add real value to the companies and communities we invest in” said Rajeev Agrawal from Ambit Pragma Advisors LLP (India).

For more information, please contact:

Gerhard Pries, Managing Partner and CEO

Sarona Asset Management  gpries@saronafund.com  +1.519.883.7557

Vivina Berla, Partner and MD Europe

Sarona Asset Management, vberla@saronafund.com, (+31)20-798-1310

About: Sarona Asset Management
Sarona is a private equity firm, investing growth capital in companies and private equity funds in frontier and emerging markets. Through its strategy of partnering with local private equity firms, Sarona is able to help build companies that deliver excellent risk-adjusted returns while creating a positive social and environmental impact. Sarona and its predecessors have developed a wealth of experience and knowledge through 60 years of private investments in frontier and emerging markets. The company is based in Kitchener, Canada, and Amsterdam, the Netherlands.

For more information, please visit www.saronafund.com.

About: the Overseas Private Investment Corporation

OPIC is the U.S. Government’s development finance institution. It mobilizes private capital to help solve critical development challenges and in doing so, advances U.S. foreign policy. Because OPIC works with the U.S. private sector, it helps U.S. businesses gain footholds in emerging markets, catalyzing revenues, jobs and growth opportunities both at home and abroad. OPIC achieves its mission by providing investors with financing, guarantees, political risk insurance, and support for private equity investment funds.

Established as an agency of the U.S. Government in 1971, OPIC operates on a self-sustaining basis at no net cost to American taxpayers. OPIC services are available for new and expanding business enterprises in more than 150 countries worldwide. To date, OPIC has supported more than $200 billion of investment in over 4,000 projects, generated an estimated $76 billion in U.S. exports and supported more than 278,000 American jobs.

Photo courtesy of Shutterstock